Bitcoin Rebounds but Remains Fragile, Needs 12% Price Gain for Safety
Bitcoin Rebounds but Remains Fragile, Needs 12% Price Gain for Safety
Bitcoin's price has rebounded above $103,700, narrowly avoiding a significant breakdown. However, the recovery is described as fragile due to weak money flow, ongoing selling by hodlers, and a looming bearish crossover. The article suggests that unless Bitcoin gains 12% to reclaim key resistance levels, the current relief rally could devolve into another correction.
Bitcoin price has rebounded above $103,700 after narrowly avoiding a breakdown near $98,900. But weak money flow, continued hodler selling, and a looming bearish crossover suggest the recovery remains fragile. Unless the price gains 12% to reclaim key resistance, Bitcoin’s relief rally could still turn into another correction.